2248 GMT - Wednesday could be a good day for Orica investors betting on additional capital management. Barrenjoey believes Orica could announce an on-market share buyback program worth around A$500 million during its investor day, pointing to the headroom to its 30-40% gearing target. Analyst Brook Campbell-Crawford says the investor day could also offer more color on medium-term financial targets for Orica's Digital division. It thinks this would be well received by investors. "We have an overweight rating on Orica given its strong growth outlook, prospect for capital returns, and attractive valuation of 16x near-term EPS (versus its 5-year average of 18x)," Barrenjoey says. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
March 09, 2025 18:48 ET (22:48 GMT)
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